The adequacy of fixed asset disclosures under U.S. GAAP
Disclosure, Financial analysis, Fixed assets
Research in Accounting Regulation
Prior to 1995, the U.S. Securities and Exchange Commission (SEC) required publicly-traded, capital-intensive registrants to prepare detailed supplemental schedules summarizing the activity in fixed asset-related accounts. This study examines these previously-mandated schedules and illustrates how current aggregated reporting requirements potentially conceal insights that could be gained with finer information. This is a significant issue, as current disclosures under International Financial Reporting Standards (IFRS) are similar to the former SEC requirements. The analysis supports the conclusion that stakeholders in capital-intensive U.S. firms are at an informational disadvantage relative to stakeholders in similar firms reporting under IFRS. © 2013 Elsevier Ltd.
Original Publication Date
DOI of published version
Bauman, Mark P., "The adequacy of fixed asset disclosures under U.S. GAAP" (2013). Faculty Publications. 1539.